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How to deposit to the hot wallet directly

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How to deposit to the hot wallet directly Forums General discussion How to deposit to the hot wallet directly

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  • #9736

    Another deposit issue tho… Please how do I deposit funds to my hot wallet or site wallet… I can’t seem to locate how to do so in the docs… I’m using the adapter



    To deposit to the hot wallet, simply use any address generated from that wallet that is NOT assigned to a user.

    One way to ensure that you get an address that is not already a user deposit address, go to WalletsCold Storage in your admin screens. Choose your coin and hit the deposit button.

    If you want to know more about the cold storage section, you can visit the Cold Storage chapter in the documentation. It’s just an easy way to deposit/withdraw to and from the hot wallet without affecting user balances. The view also lets you see what the sum of user balances is, so that you know what percentage of the balances is covered by the funds you have online.

    Please let me know if you have any other questions.

    with regards

    P.S. I have moved your question to the general discussion because the answer is not specific to CoinPayments.


    Thanks… I think I’ve got it now


    Is it possible to pick another users wallets to be the cold storage?

    IF NOT, is there a DB call or any other method to get those cold storage wallet addresses to use?

    We want one employee responsible for this and NOT the admin.


    Hello @dynamitemedia,

    Any address that is not a registered deposit address can be used to increase the hot wallet balance.

    The plugin checks all incoming transactions to the wallet. If a deposit address is associated with a user, the transaction debits the user balance. If not, the plugin ignores the transaction, and therefore it only increases the hot wallet balance.

    To get the plugin’s cold storage deposit address, you can read it from an option. For example, to get the plugin’s Bitcoin cold storage deposit address: get_option('wallets_cs_address_BTC');

    To create a new wallet address communicate with the coin adapter directly. Example:

    // get a hold of the coin adapters
    try {
    	$adapters = apply_filters( 'wallets_api_adapters', array(), array(
    		'check_capabilities' => true,
    		'online_only' => true,
    	) );
    } catch ( Exception $e ) {
    	error_log( 'you do not have access to wallets' );
    // iterate over all the adapters and get a new address from each wallet
    foreach ( $adapters as $symbol => $adapter ) {
    	try {
    		$address = $adapter->get_new_address();
    	} catch ( Exception $e ) {
    		error_log( "Could not get a new address for $symbol, because: " . $e->getMessage() );
    	error_log( "The new deposit address for $symbol is $address" );
    	// TODO you must somehow save the addresses somewhere if you want to use them

    Hope this helps.

    with regards

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